Williamsburg Tourism Zone and Culinary Arts & Tourism District

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1 Williamsburg Tourism Zone and Culinary Arts & Tourism District

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3 City Goals Goal 1 Character of the City Goal 2 Economic Vitality Goal 3 - Transportation

4 Goal 1 Character of the City Initiative Northeast Triangle Land Use and Incentives Implement incentives and public improvements to effect timely and meaningful change to implement the Tourism Zone and Culinary Arts District using lessons learned from past redevelopment initiatives.

5 Goal 2 Economic Vitality Initiative - Tourism Development Implement and market the tourism zone in the Northeast Triangle, which includes the commercial corridors of Capitol Landing Road, Second Street, Penniman Road, and the Colonial Williamsburg Visitors Center, to encourage business investment and redevelopment to attract tourism related businesses and market demand to this area with easy access to I 64 and proximity to the historic district. Increase Placemaking Product Seek funding methods, to include the redirection of funding from other programs and investment in public infrastructure, to accelerate the development of tourism product.

6 Goal 2 Economic Vitality Initiative Redevelopment Engage in shaping the future of significant properties ripe for redevelopment, particularly in Midtown and Capitol Landing Road areas.

7 Goal 3 Transportation Initiative - Pedestrian & Bicycle Connectivity Northeast Triangle Identify and design bicycle and pedestrian connectivity to extend along the Capitol Landing Road corridor and connecting the tourism zone to neighboring residential areas, Downtown and the Historic District.

8 Goal 3 Transportation Initiative Road Improvements Capitol Landing Road Cross Section Complete the redesign of Capitol Landing Road to incorporate a complete street design and road diet; including increased pedestrian and bicycle activity, wide sidewalks suitable for café seating, decorative amenities, transit shelters, and aesthetic improvements to encourage redevelopment of adjacent lands in the Culinary Arts zoning district

9 Goal 3 Transportation Initiative Road Improvements Capitol Landing Road/Bypass Road Intersection Reconfigure the design for the intersection of Capitol Landing Road and Bypass Road and schedule the capital improvement project to implement the design as appropriate.

10 City Tools Zoning Text Amendments to allow targeted uses by right Streetscape Design and Infrastructure Investments to create sense of place Tourism Zone to target businesses that attract customers Small Business Improvement Grant to encourage private investment Demolition Program to encourage redevelopment Discretionary Incentives

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12 Zoning Text Amendments Targeted Uses allowed by right hotels/motels, timeshares, restaurants, bake shops, micro-beverage, brew pubs, schools for the culinary arts, retail and studios or workshops for artists and artisans Food Trucks

13 Public Infrastructure Streetscape Improvements to Capitol Landing Road Intersection Improvements at Bypass and Capitol Landing Roads Underground wiring

14 New Economic Development Tools Small Business Improvement Grant Tourism Zone Local benefits State benefits

15 Other Economic Development Tools Demolition Grant Discretionary Incentives Sign Grant ecommerce Grant Google Street View Grant Bike Rack Grant

16 Small Business Improvement Grant 50% matching grant to encourage private investment by existing businesses Maximum $10,000 grant per property Short term stimulus sunset June 2018 Exterior and interior improvements First come, first served Managed by ED staff via the EDA

17 Tourism Zone Local Benefits What Businesses? Primary customer resides outside local area Culinary and Hospitality Uses Hotels/Motels Timeshares Theaters/Assembly Halls Museums/Art Galleries Restaurants Bake Shops Micro-Beverage Culinary Schools Retail Art Studios/Workshops

18 Chain & Franchise Businesses Allowed only if brand is not currently in the Greater Williamsburg Area Does not prohibit a locally owned business from opening a second location in the zone Applies to Restaurant and Retail, not Hotel

19 Minimum Investment Criteria Capital Investment Requirement New business must invest $250,000+ Existing business must invest $50,000+

20 Additional Scoring Criteria Forecasted local tax generation Job creation Public art contribution Live performing arts or art for sale Healthy food concept or pedestrianfriendly designs that exceed City requirements

21 Local Incentives Refunds a portion of future new tax revenue BPOL Local portion of Sales Tax Room and Meals taxes Zoning and Building Fee Waiver

22 Incentive Time Frame Maximum of 5 years Scoring Criteria Impact Time and Percentage Incentive Year One Year Two Year Three Year Four Year Five BPOL (Business License Fee) Refund % 20-80% 10-60% 0-40% 0-20% Sales Tax Benefit % 20-80% 10-60% 0-40% 0-20% Room Tax Benefit % 20-80% 10-60% 0-40% 0-20% Meal Tax Benefit % 20-80% 10-60% 0-40% 0-20% Zoning and Building Fee Exemption 100%

23 New Restaurant $800,000 CapEx, 20 new jobs, Healthy Locally Sourced Food $1,000,000 Annual Sales (Year 1) $1,500,000 Annual Sales (Years 2-5) Year 1 Year 2 Year 3 Year 4 Year 5 Total New Revenue to City $24,800 $55,800 $74,400 $93,000 $93,000 $341,000 Refund to Business $37,200 $37,200 $18, $93,000

24 Expansion of Existing Restaurant $100,000 CapEx, 8 new jobs, Healthy Food, Contribution to Public Art, Live Music $750,000 NEW Annual Sales (Year 1) $1,000,000 NEW Annual Sales (Years 2-5) Year 1 Year 2 Year 3 Year 4 Year 5 Total New Revenue to City 0 $12,400 $24,800 $37,200 $49,600 $124,000 Refund to Business $46,500 $49,600 $37,200 $24,800 $12,400 $170,500

25 New Hotel with Restaurant $11,000,000 CapEx, 25 new jobs, Pedestrian Friendly $2,300,000 Annual Sales (Year 1) $3,000,000 Annual Sales (Years 2-5) Year 1 Year 2 Year 3 Year 4 Year 5 Total New Revenue to 0 $37,200 $74,400 $111,600 $148,800 $371,000 City Refund to Business $142,600 $148,800 $111,600 $74,400 $37,200 $514,600

26 Tourism Zone State Benefits Gap Financing fund by future state and local sales tax revenue Compensates for a shortfall in project funding, not to exceed 30% of a qualified project s total cost 1% of the identified, quarterly, sales and use tax on the revenue of the project is the amount each partner will contribute towards debt service on the project, until debt service is fully paid The developer owns all debt exclusively, while the locality and state only contribute to debt service

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28 Virginia Tourism Growth Fund Eligible projects include new or expanded facilities or venues for lodging, recreation, entertainment, epicurean, cultural, or destination retail products or services designed to attract travelers to the Commonwealth. The VTGF Virginia Tourism Growth Fund is now closed for the remainder of Renewal is expected, but cannot be confirmed until Spring 2017.

29 State AFID Grant Governor s Agriculture and Forestry Industries Development Fund Must be a facility that produces "value added agricultural or forestal product A minimum of 30 % of the agricultural or forestry products to which the facility is adding value will be grown or produced within the Commonwealth of Virginia in normal years.

30 Questions? Dan Clayton, Public Works Director Carolyn Murphy, Planning and Codes Compliance Director Michele Mixner DeWitt, Economic Development Director Rich Saunders, Economic Development Specialist